Gold XAU/USD completes the trading week at the level of 1261.80. Gold is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend over Gold. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 1272.00, from which it is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 1246.00.
XAU/USD weekly forecast June 5 — 9, 2017
Earlier, a signal of medium strength was obtained for Gold buying, due to crossing of the signal lines at the level of 1249.53. Consider buying is worthwhile with the breaking of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing of quotes above the level of 1290.00, in the case of breaking through the lower boundary of the Cloud, Ichimoku Kinko Hyo, it is expected to continue the development of the bearish trend for XAU/USD.
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